Wave summary:
The break below minor support at 126.03 is the first strong indication that the corrective wave b terminated at 127.27 and wave c now is developing for a decline to 119.90 and maybe even lower to 117.35.In the short term, the former support at 126.03 now acts as resistance for a continuation lower to 123.01 and below here confirms the decline to 119.90 and maybe lower.
Trading recommendation:
We are short EUR from 126.79 and will move our stop lower to 126.75. If you are not short EUR yet, then sell near 126.03 and use the same stop.
